May 4, 2021

Caesars to sell William Hill’s non-American assets

Caesars to sell William Hill’s non-American assets

Caesars Entertainment is said to be making moves to sell William Hill’s non-American assets. The potential sale involves around 1,400 William Hill high street shops across the UK, which The Telegraph claims could fetch as much as £1.5 billion. William Hill’s UK and European online businesses will also be included in the auction.

Caesars acquired the UK-based sportsbook operator after finalizing a $3.7 billion takeover deal last month.

Apollo Global Management, the Wall Street buyout firm, has joined the bidding war for the outfit together with Israeli gambling tycoons, Shaked Ventures, behind 888 Holdings, according to reports. Private equity company Apollo is reportedly in pole position after having already attempted to purchase the whole package last year.

This move comes amid the growth of takeover interest from US gambling companies in the UK’s betting industry. This is after legalized sports betting and online gambling keep expanding in the US during the Covid pandemic.

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